Sunday, September 11, 2005

Economy in Las Vegas

Economy of a place depends on the production, trade and the supply of money in that particular region. The sales of new houses in United States reached new heights and the orders for manufactured goods declined, in spite all these factors the U.S economy is moving at a steady pace. The previous record sale, of 1.32 million units in June was surpassed by, 1.41 million new home sales in July this year.

As against the prediction of the economist, the housing front showed great performance with the increase in home prices in July. The west and the northeast enjoyed the increase while the Midwest and the north could not keep up with the pace. Existing home sales maintained its position in spite of the decrease in sales in July. Housing market has played an important role in maintaining the economy of Las Vegas. To counter balance the increase demand in housing sector, a strong demand has been created for primary metals including steel.

posted by Diane @ 12:26 AM